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Artificial intelligence is changing the investment banking game. But banks are divided on whether to cut costs or try and win more deals
Ex-Crédit Agricole banker to be based in Paris
Édouard Sauce had been with the firm for almost a decade
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The coronavirus crisis, new challengers, technology and capital requirements threaten to shake up the banking sector — and banks are likely to shift business models substantially, according to management consultancy firm Arthur D Little. -
The Basel Committee on Banking Supervision has this week put out new guidelines for auditors to follow when they check the way banks calculate expected credit losses. The guidance arrives as market participants struggle to determine the outlook for bad loans, as a result of a significant variability in accounting practices.
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Sister affiliate alternative asset managers Candriam and New York Life Alternatives have bought a minority stake in European private credit firm Kartesia. The strategic partnership will bolster Kartesia’s financial position and keep the firm competitive as direct lenders in Europe increase their firepower.
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Deutsche Bank is joining the ranks of banks that tie their top managers’ bonuses to sustainability targets, highlighting the fact that there is great variety in how this is done among leading investment banks.
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Investment bankers have piled up heaps of revenue for their firms this year, but their employers may feel the need not to be too generous with bonuses in the first few months of next year.
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Goldman Sachs is leading the race to fully own a Chinese securities company. It has agreed to buy all the outstanding shares in its 16-year old joint venture, Goldman Sachs Gao Hua Securities, from its onshore partner.
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